Learning Outcomes

Introduction to Microeconomics

The Demand Curve

The Supply Curve

The Equilibrium Price and Quantity

A Deeper Look at the Demand Curve

The Demand Curve Shifts

A Deeper Look at the Supply Curve

The Supply Curve Shifts

Exploring Equilibrium

Does the Equilibrium Model Work?

Supply and Demand Terminology

Lesson Summary

In this module, you will first explore how people respond to changes in price and discover the relationship between price and quantity supplied. Next, learn how prices reach equilibrium. Then, learn about horizontal and vertical methods for reading the demand curve, how demand curves shift, and consumer surplus. Then, explore important factors that shift the demand curve as well as the supply curve. Lastly, this module will present a case study that explores the equilibrium model.

Elasticity of Demand

Office Hours: Elasticity of Demand

Calculating the Elasticity of Demand

Elasticity of Supply

Elasticity and Slave Redemption

Applications Using Elasticity

In this module, learn about determinants of elasticity, the midpoint formula, and how to calculate the elasticity of supply. Then, explore the history of the Sudan civil war and how elasticity relates to the slave redemption. Lastly, learn about how elasticity relates to other scenarios, such as gun buyback programs in the U.S.

Commodity Taxes

Who Pays the Tax

Tax Revenue and Deadweight Loss

Subsidies

Wage Subsidies

In this module, you will first learn about taxes, tax revenue, and subsidies. Then, learn about who really pays taxes – buyers or sellers? This will be introduced in conjunction with the notion of social security and health insurance taxes.  Then, gain an understanding of why taxes exist and how taxes relate to surplus and deadweight. Lastly, learn about subsidies, such as wage subsidies and minimum wage.

Microeconomics: Supply, Demand, and Equilibrium - Final Assessment

Learn about supply, demand, and taxes and how they impact the economy with this free online microeconomics course.

Microeconomics: Supply, Demand, and Equilibrium

Well-known economists Tyler Cowen and Alex Tabarrok bring microeconomics to life in this free online course. Engaging, easy-to-follow lessons explore how the supply of goods and services drives an economy, how prices help co-ordinate market activity, and how consumers respond to changes in price. Study the relationship between price and supply, examine the elasticity of supply and demand, and gain an understanding of taxes and subsidies, today!

2025’s Online Education Shakeup Claims Another: Skillshare’s CEO Departs

2000+ Free Developer and IT Certifications

CreativeLive is Live Again: CourseHorse Acquires Platform 15 Days Before Shutdown

12 Best Data Analysis Courses for 2025: From Data to Insights

Stanford Medicine Offers Courses with Free Certificate & CME Credit

Coursera Announces Layoffs, Stock Plunges Despite $100M Milestone

Udacity’s 2021: Year in Review

DeepLearning.AI to Cross $100M in Sales on Coursera

Harvard and MIT’s $800 Million Mistake: The Triple Failure of 2U, edX, and Axim Collaborative

Harvard CS50 in 2025: How to Get a Free Certificate

Four Months After Unveiling Ambitious AI Roadmap, Udemy’s Co-founder CTO is Out

Best CSS Layout Courses for 2025

900+ Open University Free Certificates

Open edX Conference 2024: Program & Speakers

Coursera 10-K Highlights: Lower Partner Revenue Share, 1k+ Employees

2U Powered Degrees Pricing Chart: 112 Programs from $20K – $200K